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Author Topic: My Altcoin experience and Lessons  (Read 174 times)

Review_Master2

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My Altcoin experience and Lessons
« on: January 04, 2022, 10:48:00 AM »
My altcoin Jurney has been full of excitement and lessons and in this thread, I reflect on what I have experienced and how I was able to manage my risks and uncertainties and come up with little or no losses in my altcoin portfolio.
The most important lesson is never to get too greedy once your investment made a certain profit just cash out and move on rather than waiting on the big 100x profits that may never come and can lead to losses if the coin gets dumped.
Take Hex coin for example I invested some amount in the coin when the project first launched with a very low price of 0.0005 and I bought around 50k of the coin that was a $25 investment at that time but the same coin raised to 0.49 in 2021 before dropping back 0.24 at the present price, let say I sold my $25 investment of 2 years at the peak price of $0.49=$25,500 that could have been huge profits but guess what I sold at the $0.005 which is much less but lessons learn always make the right decision at the right time.

CryptoboyRamesh

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  • Re: My Altcoin experience and Lessons
    « Reply #1 on: January 04, 2022, 01:23:11 PM »
    Greed has screwed over lots of people, and for lots of money. I've been dipping more into alts recently (on PancakeSwap mostly) and when I can be profitable with one I pull out my initial investment plus a little extra, and then leave a bit of profit in the token if I want to go for the whole 100x/moon thing. If a token is really going to moon then you can make a good profit even with a very small amount (for example if I can make 100% ROI on my $25-$30 investment and I really want to take a small shot at the moon, I might leave $5-$10 of profit in there). As I improve and build a larger bankroll, maybe I can get to a point where I'm saving $15-$20 on those. Still, I agree that greed will usually end up screwing you if you're chasing those 100x profits. Best to set a profit target and stick to it. Then, if nothing else, leave a bit of profit in there to chase the moon shot. That's my opinion anyways..

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    lanjer50

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    Re: My Altcoin experience and Lessons
    « Reply #2 on: January 04, 2022, 04:17:47 PM »
    We get ideas from one project to another. For example, those who have been holding Hex for the last two years are now benefiting. And those who have already sold may not be able to make a profit. There are some coins in crypto that once gained good popularity but are not in place today. Again there are some differences. So what you do depends on your needs.
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    MrSpasybo

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    Re: My Altcoin experience and Lessons
    « Reply #3 on: January 05, 2022, 01:48:41 AM »
    Haha, the market always teaches us new lessons every day.
    The biggest lesson that I have is the cyclical nature of the crypto market, no matter how strong the market is, winter is sure to come.
    Polkadot does what Ethereum cannot

    sharabela

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    Re: My Altcoin experience and Lessons
    « Reply #4 on: January 06, 2022, 08:19:08 AM »
    My altcoin Jurney has been full of excitement and lessons and in this thread, I reflect on what I have experienced and how I was able to manage my risks and uncertainties and come up with little or no losses in my altcoin portfolio.
    The most important lesson is never to get too greedy once your investment made a certain profit just cash out and move on rather than waiting on the big 100x profits that may never come and can lead to losses if the coin gets dumped.
    Take Hex coin for example I invested some amount in the coin when the project first launched with a very low price of 0.0005 and I bought around 50k of the coin that was a $25 investment at that time but the same coin raised to 0.49 in 2021 before dropping back 0.24 at the present price, let say I sold my $25 investment of 2 years at the peak price of $0.49=$25,500 that could have been huge profits but guess what I sold at the $0.005 which is much less but lessons learn always make the right decision at the right time.
    This is the most important thing in life. We have to take the right decision at the right time. However, do not regret but put your chin up. Concentrate on trading, you will surely do better in the future.

     

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